The Vedanta and Foxconn joint venture will set up the semiconductor and display manufacturing facility in Dholera Special Investment Region near Ahmedabad, Gujarat.
The JV had signed a memorandum of understanding (MoU) with the Gujarat government to infuse Rs 1,54,000 crore to set up semiconductor and display manufacturing plant in September 2022.
It is the first semiconductor manufacturing facility in India. After a detailed site analysis in consultation with state government authorities, the joint venture entity has selected Dholera SIR for setting up their semiconductor and display manufacturing facility.
This project is likely to get huge subsidies and incentives, such as zero stamp duty on land purchase and subsidised water and electricity, under the ‘Gujarat Semiconductor Policy 2022-27’ announced by the state government in July 2022.